Adobe says CEO Shantanu Narayen will step down after it names his successor; Narayen became CEO in 2007 and will stay on as chair of the board; ADBE drops 6%+
Adobe said CEO Shantanu Narayen will step down after a successor has been appointed, and he will remain as the design software company's chair.
Adobe CEO Shantanu Narayen will step down after a successor is named; he became CEO in 2007 and will remain as chair of the board; ADBE drops 6%+ after hours
Adobe said CEO Shantanu Narayen will step down as CEO after a successor has been named, and remain as chair of the design software company's board.
Software and data stocks plunge over fears that new AI developments will supplant software; ADBE fell 7.31%, CRM 6.85%, and Thomson Reuters 15.83% on Tuesday
From Legalzoom.com and Expedia to Ares and Apollo, shares of companies that sell or invest in software fell sharply on Tuesday
Adobe reports Q4 revenue up 11% YoY to $5.61B, vs. $5.54B est., Digital Media revenue up 12% YoY, and forecasts FY 2025 earnings below est.; ADBE drops 8%+
Brody Ford / Bloomberg :
Adobe reports Q3 revenue up 11% YoY to $5.41B, vs. $5.37B est., Digital Media revenue up 11% to $4B, Q4 revenue guidance below est.; ADBE drops 9%+ after hours
- Company has added AI tools to its signature creative software — Revenue gains 11% in reported quarter; profit tops estimate
Adobe Q2: revenue up 10% YoY to $5.31B, vs. $5.29B est., Digital Media revenue up 11% to $3.91B, Digital Experience revenue up 9%; ADBE jumps 14%+ after hours
Jordan Novet / CNBC :
Adobe reports Q1 revenue up 11% YoY to $5.18B, vs. $5.14B est., Digital Media revenue up 12% YoY to $3.82B, and Q2 revenue guidance below est.; ADBE drops 10%+
Jordan Novet / CNBC :
The failed Figma acquisition leaves Adobe with ~$6B in cash, likely to be used for AI development and stock buybacks; ADBE is up 75%+ in 2023 amid AI excitement
- Startups like Canva, Figma and OpenAI remain a risk to growth — Investors banking on AI to boost Adobe's customers and sales
Adobe reports Q4 revenue up 12% YoY to $5.05B, vs. $5.03B est., Digital Media revenue up 13% YoY to $3.72B, and FY 2024 guidance below est.; ADBE drops 5%+
- Adobe's fiscal fourth-quarter results surpassed expectations, but guidance for fiscal 2024 trailed estimates.
Adobe plans to buy UI design and prototyping tool Figma for ~$20B, half cash and half stock; CEO Dylan Field will continue to lead Figma; ADBE closed down 16.8%
Today, we're announcing that Figma has entered into an agreement to be acquired by Adobe. TechCrunch : After the Figma-Adobe deal, which design startups are acquisition targets? Wall Street Journal : ...